Nuveen California Quality Municipal Income Fund (NYSE:NAC) Sees Large Growth in Short Interest

Nuveen California Quality Municipal Income Fund (NYSE:NAC) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 214,000 shares, an increase of 54.4% from the November 30th total of 138,600 shares. Based on an average daily volume of 529,000 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On Nuveen California Quality Municipal Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Nuveen California Quality Municipal Income Fund in the second quarter valued at $82,000. CWM LLC raised its position in Nuveen California Quality Municipal Income Fund by 253.9% in the third quarter. CWM LLC now owns 7,018 shares of the company’s stock worth $83,000 after acquiring an additional 5,035 shares in the last quarter. Larson Financial Group LLC acquired a new stake in Nuveen California Quality Municipal Income Fund in the 3rd quarter valued at about $119,000. Blue Bell Private Wealth Management LLC boosted its position in shares of Nuveen California Quality Municipal Income Fund by 48.5% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 10,926 shares of the company’s stock valued at $126,000 after purchasing an additional 3,569 shares in the last quarter. Finally, CreativeOne Wealth LLC acquired a new position in shares of Nuveen California Quality Municipal Income Fund in the 3rd quarter worth approximately $128,000.

Nuveen California Quality Municipal Income Fund Stock Down 0.8 %

Nuveen California Quality Municipal Income Fund stock traded down $0.09 during trading hours on Friday, hitting $11.17. 559,227 shares of the company traded hands, compared to its average volume of 424,768. Nuveen California Quality Municipal Income Fund has a 1-year low of $10.60 and a 1-year high of $12.03. The firm’s 50-day simple moving average is $11.49 and its two-hundred day simple moving average is $11.63.

Nuveen California Quality Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.0735 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 7.90%.

About Nuveen California Quality Municipal Income Fund

Nuveen California Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of California, United States. The fund invests in undervalued municipal securities and other related investments that are exempt from regular federal and California income taxes.